OCC Encourages Banks and Savings Associations To Be Prepared

WASHINGTON — The Office of the Comptroller of Currency (OCC) reminds national banks and federal savings associations to maintain effective plans to respond to natural disasters and other emergencies.

“September is National Preparedness Month, which reminds everyone of the importance of being prepared and staying informed about the kinds of natural disasters and emergencies that can occur nearby,” said Senior Deputy Comptroller for Midsize and Community Bank Supervision Toney Bland. “Whether it’s wildfires, tornadoes, floods, or hurricanes, a good plan can help your institution be resilient in the face of adversity, continue to meet the needs of your customers, and assure the safety of your employees when it matters most.”

The OCC also reminds national banks and federal savings associations of guidance (OCC Bulletin 2012-28) to assist financial institutions and customers affected by extreme weather and other emergency conditions. The OCC recognizes the significant effects of natural disasters on individuals and businesses, and prudent efforts to assist customers in areas hit by disasters should not be subject to examiner criticism.

The Federal Emergency Management Agency (FEMA) provides a variety of guidance and information regarding emergency preparedness, including information about how to protect your business, preparing your plan, and the Integrated Public Alert and Warning System.

National banks and federal savings associations with questions about their preparedness should discuss their plans with assigned supervisory staff.

Related Links

• OCC Bulletin 2012-28, Supervisory Guidance on Natural Disasters and Other Emergency Conditions
• FEMA